Critical minerals and rare earth supply
SMRTR summary
Critical minerals essential for clean energy and technology reached a $328 billion market in 2024, projected to exceed $770 billion by 2040, but face severe supply risks due to China's dominance in processing 70% of strategic minerals. China's 2025 export controls on rare earths and other key materials disrupted global supply chains and caused European prices to spike six times higher, prompting the US to launch a $12 billion strategic stockpile program while other nations mobilized partnerships to reduce dependence.
SMRTR provides this summary for quick context. The original article belongs to Interesting Engineering.
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